It’s tax season and we’re guessing you’re scurrying about trying to find all your necessary documents to file. Once you find your documents, then what? How confident do you feel that you can do your taxes and maximize your returns? Are you afraid of getting audited? For all your tax return and tax relief services, look no further than the professionals at Rink and Robinson Certified Personal Accountants and Consultants. We can help get you out of a tax rut and make your life easier.
At Rink and Robinson, our services range from litigation support to non-profit accounting and consulting. We understand how important it is that the money in your life is tracked and handled appropriately. That’s why we take extra care to make sure our clients feel at ease with our work. With 50 years of tax services under our belt, we want you to feel confident that you have made the right choice to hire us as your CPA.
While we do provide many services, our tax reporting and tax relief services are the most requested services at this time of year. Our professionals are ready and able to maximize your returns for the 2016 year. Should you end up audited, we can walk you through the process of the audit to end up in the green rather than the red. Auditors can be intimidating and know how to get the most information out of you. You could even wind up sharing information with the auditor that you in no way legally obligated to share.
Don’t fall prey to the IRS and a tricky economic system. Let our group of knowledgeable and experienced CPA professionals help make the most of your business or investments. We can handle any accounting problem you throw our way. Rink and Robinson CPA and Consultants will surely become your go-to accounting firm for years to come. Call us today to see how we can best help you.
Rink and Robinson Certified Personal Accountants and Consultants hear frequently how stressed folks are over tax audits. We completely understand! Tax season is a stressful time, and we get why you might be a little uneasy. An IRS audit can be incredibly difficult to deal with. When it comes to IRS audits and tax relief, Rink and Robinson is the accounting firm you can trust to get you out of a rut.
When you get that letter in the mail from the Internal Revenue Service stating you are being audited, your first step should be to decide whether you need professional help. There are many reasons you could be audited. The IRS has a computer system that can pick up on outlying data, such as above average withholdings. Your 1099s, W2s or cash wages not matching your report could raise a red flag with the IRS. You could even just be a victim of random selection for IRS audits.
Sometimes people choose to handle audits by themselves, and that is perfectly fine. When you decide that you need professional help with your tax relief, we are here for you. Auditors know how to get information from you that you are under no obligation to give. They can be intimidating and get more money from you than you need to give. Our CPAs at Rink and Robinson know how to get you out of that and can be the difference between being in the red or green.
Don’t fall prey to the IRS and make sure you don’t wait too long to have your audit taken care of. Rink and Robinson CPA will be your go to for years for any tax relief services you will run into. Call us today to see how we can best help you during this tax season.
It’s tax season, and either everyone looks forward to the returns or dreads an audit. If you are a small owner fearing an IRS audit, you are one of the majority. And what’s not to fear? IRS Audits can cost you more money, time, and stress. If an auditor gets you on the phone? Scary. That’s why you should trust Rink & Robinson Certified Public Accountants and Consultants. We are the team that can get you safely through an audit without putting you in the hole.
We often get asked by our clients why they are being audited. This can be one, or a few, of many reasons. A red flag for the IRS might be a specific activity on your return, such as 1099 and W-2 forms that don’t match what you reported, overly high deductions, and inconsistencies with previous years. Computer programs can also find outlying data on your return, such as above average withholdings. It’s also possible for you to be audited based on any transactions you listed on your report that involve someone else being audited. And yes, you can also be audited by random selection.
Whatever the reason for your IRS audit, you need to know how to handle it. You could, theoretically, tackle the issue yourself. If you are comfortable and familiar process, go for it! We find that most of our clients aren’t aware of their rights. Auditors are trained to get the most out of you out of your fear for having to pay too much money. Don’t let that be you!
Call Rink and Robinson’s CPAs if you are worried about your tax audit process. Our clients rarely need to speak with the IRS. We handle it all for you so you don’t have to spend even more time away from your family and business. Let us get you out of a tax rut!
This tax season, you may be worried about getting audited. Trust us when we say you aren’t alone. An Internal Revenue Service audit is no joke. It can be stressful and costly and take too much time away from your family and business. When you get that audit in the mail, we know how you are feeling. If you are feeling overwhelmed by the thought of dealing with an audit, call Rink and Robinson Certified Public Accountants and Consultants.
There are many reasons why one could be. When our clients ask us why they have been audited, we tell them it could be one, or a few, different reasons. If your 1099, W-2 forms, or cash wages don’t match what you reported, it could be a red flag for the IRS. Another reason you could be audited is if your report involves transactions with another party being audited. The IRS has computer programs that can also flag unusual data on reports, such as above average withholdings or deductions. It’s also entirely possible that you could be audited from random selection.
Sometimes when you receive that Internal Revenue Service audit letter, it could just mean you need to collect more supporting documents. Many people decide to try to handle the audit themselves, which is fine. We are here to help you through your audit to reduce your stress and keep you out of debt. Auditors are trained to get information from you that you are not obligated to tell. Don’t let the IRS intimidate you.
If you are in a tax bind and need some peace of mind, let the CPAS at Rink and Robinson speak for you. We promise to be the accounting firm you can trust to get you through your audit in one piece. Call us today to see if we are a fit for you.
Its time to fall into a new career position
A bookkeeper’s position requires you to be responsible for a full range of
bookkeeping and general administrative duties.
· General Ledger
· Payroll Services, including payroll tax reporting
· Sales tax services
· Journal Entry preparation and recording
· Financial Statements
· Bank and Credit Card Reconciliation
· AP/AR Management, including invoicing and collections
· Data Entry
· Support to other administrative functions, as required
· Associate’s Degree in Accounting
• Proficiency in Excel, Word and QuickBooks
• 2 years of full charge bookkeeping experience – Preferred
• Organizational skills
• High level of professionalism and business ethics
This is a full-time in-house position that offers the opportunity to contribute to your growth and success. This firm supports a professional environment with a business casual dress code.
Rink & Robinson is a certified public accounting firm providing services to the Hickory and western North Carolina area for over 59 years. We are known for specializing in services such as: tax return preparation, payroll and bookkeeping preparation, auditing, new business consults, financial & estate planning.
Please email resumes: firstname.lastname@example.org
Fax resumes: 828-322-5816
Happy St Patrick’s Day
On this day in 461 A.D., Saint Patrick, Christian missionary, bishop and apostle of Ireland, dies at Saul, Downpatrick, Ireland.
Much of what is known about Patrick’s legendary life comes from the Confessio, a book he wrote during his last years. Born in Great Britain, probably in Scotland, to a well-to-do Christian family of Roman citizenship, Patrick was captured and enslaved at age 16 by Irish marauders. For the next six years, he worked as a herder in Ireland, turning to a deepening religious faith for comfort. Following the counsel of a voice he heard in a dream one night, he escaped and found passage on a ship to Britain, where he was eventually reunited with his family.
According to the Confessio, in Britain Patrick had another dream, in which an individual named Victoricus gave him a letter, entitled “The Voice of the Irish.” As he read it, Patrick seemed to hear the voices of Irishmen pleading him to return to their country and walk among them once more. After studying for the priesthood, Patrick was ordained a bishop. He arrived in Ireland in 433 and began preaching the Gospel, converting many thousands of Irish and building churches around the country. After 40 years of living in poverty, teaching, traveling and working tirelessly, Patrick died on March 17, 461 in Saul, where he had built his first church.
Since that time, countless legends have grown up around Patrick. Made the patron saint of Ireland, he is said to have baptized hundreds of people on a single day, and to have used a three-leaf clover–the famous shamrock–to describe the Holy Trinity. In art, he is often portrayed trampling on snakes, in accordance with the belief that he drove those reptiles out of Ireland. For thousands of years, the Irish have observed the day of Saint Patrick’s death as a religious holiday, attending church in the morning and celebrating with food and drink in the afternoon. The first St. Patrick’s Day parade, though, took place not in Ireland, but the United States, when Irish soldiers serving in the English military marched through New York City in 1762. As the years went on, the parades became a show of unity and strength for persecuted Irish-American immigrants, and then a popular celebration of Irish-American heritage. The party went global in 1995, when the Irish government began a large-scale campaign to market St. Patrick’s Day as a way of driving tourism and showcasing Ireland’s many charms to the rest of the world. Today, March 17 is a day of international celebration, as millions of people around the globe put on their best green clothing to drink beer, watch parades and toast the luck of the Irish
NC-Sales Tax Laws- Change 3/1/2016
North Carolina Department of Revenue
Automotive, Repair, Maintenance, Installation, etc.
Effective March 1, 2016, N.C. Gen. Stat. § 105-164.4(a)(16) imposes the general 4.75% State rate of sales and use tax “to the sales price of or the gross receipts derived from repair, maintenance, and installation services” sold at retail and sourced to the State. The applicable local (2.00% or 2.25%) and applicable transit (0.50%) rates of sales and use tax also apply to the sales price of or the gross receipts derived from such services.
Defined by activities such as: to keep or attempt to keep tangible personal property or a motor vehicle in working order to avoid breakdown and prevent repairs or to install or apply tangible personal property except tangible personal property installed or applied by a real property contractor pursuant to a real property contract. ~ for more information call our office.
An example: A person engaged in business in the state of selling appliances at retail is a retailer. Any charges by such person on or after March 1, 2016 for a service call for troubleshooting only is a charge for repair, maintenance, and installation services and is subject to tax.
A sampling of services generally considered repair, maintenance,
and installation services are listed below.
•Re-string or re-grip tennis rackets, golf clubs, or musical instruments.
•Tune pianos or other musical instruments.
•Repair laptops, cell phones, remove viruses/malware, conduct diagnostic tests, or adjust computer settings.
*This is a sampling*
If you would like further information,
please call our office.*
Please note there are some exemptions to this NEW statute like:
housekeeping of real property
NC Department of Revenue has posted new laws and are effective immediately!
Looking for an accountant in the Hickory North Carolina area?
Finding an Accountant Can Lead to Big Tax Savings
If you’re like most Americans you probably have a good handle on completing your taxes on your own. Over the years it has become incredibly easy for anyone with a computer thanks to Tax software for the home office to file your own taxes. For those of you with relatively simple tax circumstances, this is the ideal way to go. But what about those with slightly more complex financial situations? Sure, there are more robust versions of tax software available such as TurboTax’s Home & Business, Property Manager, and so on. These solutions go into greater depth to help you, but is it the best choice for you?
True Tax Story
As soon as John was on his own, he began using tax software to do his own taxes. He used both TurboTax and H&R Block’s software many times and both got the job done great. For a few years during college his finances were simple and his income and deductions were trivial. Those were the good ol’ days. As time went on his finances started to get a little more complicated. For a few years he was a member of an LLC in addition to working part-time. This created a few unique scenarios that made doing his taxes a little more complicated, yet he was still comfortable in handling it on his own. As the years went on he moved on to where he and his wife had regular salary jobs, no house, no kids, no odd circumstances, so doing his taxes again became as easy as sitting down at the computer for an hour and plugging in a few numbers.
Then, things started to change as John started to dabble in freelance work and other self-employment ventures. The first few years were easy because it was more of a hobby and the income and expenses generated from the freelance work were trivial. As time went on, more sources of income started coming in, and additional expenses started adding up, his tax returns became more of a nightmare. Sure, the software could still handle it, but he was spending more time tracking down documents, receipts, and trying to find deductions because the tax bill at the end of the year was growing significantly. One year after plugging in all of the data into the tax software, it said he owed the IRS nearly $4,000. That’s impossible, John thought. He had as much taken out of their paychecks as possible through work, and was paying estimated quarterly taxes, and was itemizing deductions so that he could deduct as much as possible. There had to be a glitch in the software or he was missing something, so he plugged the numbers in over and over for about a week straight only to come to the same result.
With that, John knew it was time to seek professional help. He asked around with some friends and co-workers about CPAs that specialize in small businesses and self-employed taxpayers, and made a few calls around and interviewed a few of them. So, he set up an appointment with us. After sitting down with a Rink & Robinson staff member for about an hour discussing his situation, looking over some numbers, and doing some calculations we knew we could help John. A few days later John was thrilled when he received a call from our office that he only owed $2,500. So at the end of the arduous process, Rink & Robinson, PLLC saved John $1,500. Sure, the cost of having us do his taxes cost $300 at a savings of $1,200. John says, “This is the best money~ he’s ever spent” Rink & Robinson will continue to do John’s work.
We shared this story just to give you one scenario where making the move to hire a professional can be a good decision. John was a savvy guy when it came to finances, but admits that sometimes the professionals need to be part of the equation because of all the changes that occur year after year. Most people think that they have enough knowledge with the assistance of tax preparation software to get the job done correctly, but clearly someone who does this stuff for a living can still do a better job in the long run. Generally it is more cost effective to hire a professional in their field to seek out services than to try to attempt it on your own. If you have a leak, you call a plumber. If you have an electrical problem, you call an electrician- so forth and so on. While it was the right decision for John it may or may not be the right decision for you.
When Should You Consider Hiring an Accountant For Your Taxes?
There is a difference between an accountant and just a tax preparer. As tax season kicks into gear you’ll begin to see advertisements pop up with tax preparers in your area who will do your taxes for you at a cost. Keep in mind that when dealing with one of these places you probably aren’t going to get a full-blown accountant or CPA. Instead, you’ll likely have someone who is qualified to handle returns, but they will likely do little more than ask you the same questions that software you buy on your own does and then plug in the numbers. While it’s nice to get some one-on-one time with someone, you also want to keep in mind that this person is more or less just trying to get your taxes done, not assess your financial situation and help you put together tax strategies going forward. So remember, there are accountants that do taxes, and there are people who do taxes that aren’t accountants.
Here are a few scenarios when it might make sense to start looking for professional tax help:
- You own a business.
Self-employed individuals stand to see the greatest return when hiring an accountant. Running a business presents a lot of unique situations that can have a significant impact on your taxes. Being self-employed also opens the door for a new world of deductions, credits, and retirement account planning that you may not be used to. While you can certainly find this information online, having someone who does this for a living will save you time and maybe even some money. In addition to just helping you find all the available deductions and paying the IRS as little as possible an accountant can be tremendously helpful in working with you to structure your business as best as possible, putting together a plan for the future to help you take advantage of tax breaks in the coming year, and being there for you if you encounter problems down the road.
- Going through a major life change.
If you’ve been plugging alone for the past few years with basically the same financial situation there’s obviously little need to pay someone to do what you’re already comfortable doing. But when you encounter a major life-changing event in the middle of a tax year it could lead to an unpleasant surprise come tax time. Getting married, divorced, changing jobs, having children, receiving an inheritance, preparing to retire, etc. These are the things that can change your financial situation in a heartbeat and if you aren’t prepared it could end up costing you dearly.
- Real estate or taxable investment dealings.
Do you own a rental property? If so, an accountant will be your best friend. Owning a rental opens up a lot of special tax situations that you’ll surely want to take advantage of and make sure you aren’t making any mistakes. The same thing can go for just buying and selling a home or other real estate. While the laws are pretty straightforward, it’s usually a large transaction in terms of dollars so you want to make sure you’re doing everything properly. Finally, let’s not forget tracking gains and losses on taxable investments. If you buy and sell stocks, bonds, mutual funds, or anything else throughout the year in a taxable account you’re going to have a lot of things to consider. Long-term vs. short-term gains and losses, dividends taxed at a different rate, cost basis, the wash rule, and so on. Sure, you can do this on your own, but how much time will it take and are you sure you’ll catch everything? The time saved by hiring a professional alone may pay for itself.
Don’t Be Afraid to Get Help
For people who like to and are proud of doing things themselves it can be difficult to make the decision to seek outside help. Don’t let that get in the way of doing what’s best for your finances. Sure, the majority of people will be just fine doing their own taxes. If that’s you, grab the latest edition of TurboTax or H&R Block At Home. It’s still the easiest and cheapest way to do your taxes. But for those of you who may have finances that are a little more complex, are self-employed, or would otherwise just like to outsource your tax preparation don’t be afraid to get a professional to help. At most it will probably only cost a couple hundred dollars compared to buying software and e-filing yourself, and chances are you save that much or more on deductions and tax strategies you overlooked by doing it on your own. Whatever you do, make sure you get an early start so you don’t miss the tax filing deadline!
Rink & Robinson, PLLC can give you a free consultation to help determine whether or not you need a professional to do your taxes. We are available Monday thru Friday 9am to 5pm and Saturdays during tax season.